NEW YORK, March 12, 2026, 11:13 AM EDT
Navitas Semiconductor Corporation dropped roughly 7% to $10.06 late Thursday morning, giving back some of Wednesday’s 24.9% surge. Investors sifted through a rush of headlines—a fresh AI data-center chip package rollout, plus the company naming a new chief financial officer.
The swing is front and center now, with Navitas working to show that pivoting away from softer mobile and consumer segments toward higher-power offerings—think AI servers, grid hardware, industrial systems—can get growth rolling again. In the fourth quarter, high-power markets accounted for more than half of revenue for the first time. Navitas expects first-quarter sales to land between $8.0 million and $8.5 million, up from $7.3 million the previous quarter.
Navitas rolled out a pair of new package designs for its latest silicon carbide power chips on Wednesday, aiming squarely at high-density AI power racks and improved thermal management. The semiconductor maker said it developed the new parts to help customers squeeze more power into smaller form factors. “More power in less space,” as Paul Wheeler, who heads the company’s silicon-carbide division, put it. GlobeNewswire
Navitas later announced that Tonya Stevens will take over as CFO on March 30. Stevens, who was chief accounting officer and interim CFO at Lattice Semiconductor, said her main focus is “reinforcing our financial foundation and discipline” while Navitas works to scale. GlobeNewswire
Navitas is making the executive switch at a tricky moment. Fourth-quarter revenue slid to $7.3 million, well below the $18.0 million it booked a year ago, while the company logged a GAAP operating loss of $41.4 million. Cost cuts are underway as Navitas pushes harder into gallium nitride and silicon carbide chips built for data centers and power infrastructure. “AI is becoming a catalyst,” Chief Executive Chris Allexandre said, pointing to wider market adoption. GlobeNewswire
That move now puts Navitas in direct competition with much bigger players. Nvidia is planning to introduce its 800-volt direct-current (VDC) data-center design—a high-voltage setup aimed at boosting power transfer while cutting conversion losses—with support from ecosystem partners Navitas, Infineon, onsemi and Texas Instruments. The launch is linked to Nvidia’s next wave of AI factories, expected to begin operations in 2027.
Still, brokers remain wary. According to Benzinga, Rosenblatt on Thursday kept a neutral call on Navitas, sticking with a $7 target—lower than the price in late-morning action. The consensus analyst target on the page was even softer at $6.16.
But that recent surge leaves the tougher issue unresolved. Navitas itself has cautioned that predicting demand in up-and-coming high-power markets isn’t straightforward, noting adoption of 800-volt systems could lag initial hopes, and that it still faces an uphill battle against bigger players with more resources for R&D and manufacturing. The company’s risk disclosures point to more uncertainty—market acceptance isn’t guaranteed, and locking in long-term supply deals remains an open question.
